FALMOUTH, Maine, Nov. 3, 2012 /PRNewswire/ -- Steve Woods, Chairman of the Yarmouth Town Council and TideSmart Global President/CEO announced today during a WGME-TV Senate Debate held in Lewiston that he will end his bid for U.S. Senate and throw his full support behind fellow Independent candidate Angus King.

"As I said when this campaign began, my commitment is to make sure that we have the best possible representation in Washington," Woods said. "I still believe I can provide that leadership, but I know that in an election, sometimes, for the good of the nation and the people of Maine, a candidate must bow out gracefully. In order to position Maine for Independent leadership and to accomplish the goals for which I stand, today we will end our campaign and I am pledging my full support to Angus King. While I respect each of Maine's U.S. Senate candidates for their commitment to civic service, our state and our country face daunting challenges ahead and it is clear to me that Angus King is by far the most competent candidate to represent Mainers in the U.S. Senate."

The announcement comes months after a June 13 private meeting in which Woods proposed to King that if either candidate were trailing the other in polls by 10 or more points during the week prior to the election, that the trailing candidate should drop out of the race and endorse the other to avoid being a spoiler. After that meeting, Woods praised King's political astuteness and leadership, a sentiment that Woods echoed during Saturday's debate.

"Over the past six months of interacting with Angus King during debates and campaign events, I can say with pride that I have the utmost respect for the former governor as a politician and now as a friend," Woods said. "We share a similar vision for Maine, and I ask that you join me in offering full support in his bid to bring independence to Washington. He's a good man with great character."

Woods said he will send a formal email to his supporters immediately to express thanks for their efforts and to urge them to support Angus King.

"To our supporters, our campaign staff and everyone who opened their hearts to me, I will always be grateful for your support," Woods said. "The change we seek can only come from the people of Maine. It will only come if you stay involved, engaged and continue to fight for an efficient and effective government that we all deserve."